Bankruptcy

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Bankruptcy is a legal process performed by Industry Canada under the Bankruptcy and Insolvency Act by which you may be discharged from most of your debts When you file for

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Bankruptcy Business structures Sole proprietorship As a sole proprietor you and your business are the same legal entity If you wish to continue in business you will be considered a new

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Insolvency for business Proposals bankruptcy and arrangements for businesses and how to find help

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1 Overview The Wage Earner Protection Program WEPP provides for the payment of outstanding eligible wages to individuals whose employer is bankrupt subject to a

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Bankruptcy receivership When businesses or consumers cannot pay their debts they may file for bankruptcy or make a proposal a payment arrangement with their creditors for a percentage

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Information on the different types of proposal in bankruptcy and where to send a copy of your proposal

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4 What you need before you apply Please follow these instructions Submit a Proof of Claim to the trustee receiver This is required to receive a WEPP payment A Proof of Claim is a written

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2 Eligibility You may be eligible if you meet all of the following your employment has ended your former employer has filed for bankruptcy is subject to a receivership or other WEPP

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A trustee in bankruptcy is a person appointed by the bankruptcy court to oversee the distribution of the assets of a bankrupt corporation to its creditors Although the levy is typically a